During the home inspection, one of the units had marijuana spread all over the coffee table.

Well, 350bps spread above the risk free rate is considered a healthy delta!

I guess I understood if they took it lump sum there would be no tax and I thought if it was spread out or interest was paid on it that, that would complicate things...

If you actually find a real deal with a real spread (which is half the battle these days, then you will have a better chance if you bring that deal to an experienced rehabber who can cut you in to a piece of the pie.

Point Breeze and Grays Ferry is mainly a flipping territory due to the high outsale and lower days on market but the spread of each of those deals are tighter than a year or two ago as the purchase price for shells have reached 100-110k in Grays Ferry and 125k-140k (sometimes even 150) for true point breeze.

The only thing I can determine from it is that $210-$300k is an awful wide spread and may need to reevaluated, and I don't know of many houses you could pick up at the price you stated and turn it into a quarter-million dollar home. 

I'm sure you're thinking that the growth in Austin has already spread 30 miles past it's borders and Killeen is only 30 more so surely they will grow together. 

An investor will need to make a spread for the risk, etc.I'd start with the ARV and work backwards like @Maya Roberts said.

Different from other cities where they might be more spread around.Feel free to DM me if you have any other questions.

They don't get completed all at once so the absorption will be spread out over some months.